Royal Gold’s (RGLD) “Outperform” Rating Reaffirmed at Royal Bank Of Canada
Several other equities analysts have also issued reports on RGLD. Scotiabank lifted their price objective on shares of Royal Gold from $81.00 to $115.00 and gave the company a sector perform rating in a report on Friday, May 12th. FBR & Co lifted their price objective on shares of Royal Gold from $80.00 to $81.00 and gave the company an outperform rating in a report on Monday, May 15th. Zacks Investment Research raised shares of Royal Gold from a sell rating to a hold rating in a report on Wednesday, May 17th. BMO Capital Markets reissued a buy rating and set a $95.00 price objective on shares of Royal Gold in a report on Friday, May 26th. Finally, Barclays PLC reissued an overweight rating and set a $84.00 price objective (up from $83.00) on shares of Royal Gold in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $91.95.
Shares of Royal Gold (RGLD) traded down 0.48% during mid-day trading on Thursday, hitting $92.53. The stock had a trading volume of 100,810 shares. The stock has a market cap of $6.05 billion, a P/E ratio of 59.70 and a beta of 0.63. Royal Gold has a 52-week low of $60.21 and a 52-week high of $94.39. The company’s 50 day moving average is $87.64 and its 200-day moving average is $76.84.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $108.90 million for the quarter, compared to analysts’ expectations of $108.72 million. Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts anticipate that Royal Gold will post $1.79 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.96 annualized dividend and a yield of 1.03%. Royal Gold’s dividend payout ratio (DPR) is 61.54%.
In other Royal Gold news, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stefan Wenger sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $77.05, for a total transaction of $115,575.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,845 shares of company stock valued at $9,306,508. 1.37% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RGLD. Capital World Investors boosted its stake in Royal Gold by 25.7% in the second quarter. Capital World Investors now owns 4,158,000 shares of the basic materials company’s stock valued at $325,031,000 after acquiring an additional 849,900 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Royal Gold by 15.8% during the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock worth $343,321,000 after buying an additional 667,497 shares during the period. Vanguard Group Inc. lifted its stake in shares of Royal Gold by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,778,135 shares of the basic materials company’s stock worth $404,759,000 after buying an additional 355,155 shares during the period. Bank of Montreal Can lifted its stake in shares of Royal Gold by 702.0% during the second quarter. Bank of Montreal Can now owns 201,972 shares of the basic materials company’s stock worth $15,788,000 after buying an additional 176,787 shares during the period. Finally, State Street Corp lifted its stake in shares of Royal Gold by 4.8% during the first quarter. State Street Corp now owns 2,354,371 shares of the basic materials company’s stock worth $164,922,000 after buying an additional 108,212 shares during the period. Institutional investors own 70.43% of the company’s stock.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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